The Perfect Layout

Category: Information

If your credit is not where it should be, there are some proven steps you can take to build and maintain it. Credit can be pretty confusing to the average person. Many things play into your credit such as no credit, late payments, landlord history, and credit cards. Consolidation Plus can help you get you on the road to good credit.

The best way to gain credit is by establishing a credit history. There are four ways to do this. Apply for secured credit card. This type of card isn’t like the traditional credit card where you have a credit limit fronted by the finance company. With secured cards, you have to add your own funds. If you put in $400, you credit limit is $400. If you pay your bill on time, it can help you qualify for a regular credit card, as unsecured cards are reported to all three credit bureaus.

You can also get a co-signer for a credit card or loan. This is probably the least popular method because the average person doesn’t want to co-sign for obvious reasons. But if you can secure a co-signer, make sure you pay your bill on time to help raise your credit score. Other ways to get your credit in order is becoming an authorized user on someone else’s credit card. If you name is on it and it’s being paid on time, that will up your credit through reporting agencies. You can also pay on outstanding bills through Consolidation Plus. People don’t realize how 4 or 5 small outstanding debts can drop credit score.

Always keep track of your bills and do your best to keep them from going over 30 days late. Work out payments with debt collectors, especially student loans. If your goal is to buy a new home, call Consolidation Plus now.